Location: Wyoming County, WV | Metro: Wyoming County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 24854 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $870. This figure represents the maximum amount that the Housing Choice Voucher program will pay toward the rent for a two-bedroom unit in this specific area.
To understand how this works for landlords, it's important to know that the voucher system operates on a shared responsibility model between the tenant and the government. Tenants are required to contribute a portion of their income towards the rent, typically 30% of their adjusted monthly income. Once this contribution is made, the Section 8 program covers the difference up to the SAFMR limit.
In addition to the base rent, there are utility allowances which can vary but are generally fixed amounts determined by HUD (Housing and Urban Development). These allowances are intended to help cover the costs of utilities such as electricity, water, and gas. For ZIP 24854, these allowances are part of the overall reimbursement structure but the exact amount is not specified in the provided data.
The reimbursement gap or surplus is calculated based on the difference between the local market rent and the SAFMR. However, the local market rent for ZIP 24854 is listed as N/A, which means we don't have a direct comparison point. Without this information, it's impossible to accurately state whether landlords would see a surplus or a gap in their reimbursements when renting to Section 8 tenants.
In practice, landlords should expect the total reimbursement (tenant contribution plus voucher payment) to be close to the SAFMR of $870. If the local market rent is higher than this, landlords will face a reimbursement gap, meaning they won't receive the full market rent for the property. Conversely, if the market rent is lower, landlords might experience a surplus, receiving more than their usual rental income due to the fixed SAFMR rate.
To make informed decisions, landlords and small-portfolio investors must consider the SAFMR of $870 as the ceiling for Section 8 reimbursement in ZIP 24854, and adjust their expectations accordingly based on the actual market conditions of the area.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.